REPORTS USES OF PROCEEDS GAINED FROM CAPITAL INCREASE

Singer Thailand Plc (SINGER) reported the uses of proceeds gained from a capital increase worth Bt135 million. The uses of proceeds as of June 30, 1996 are as follows: - The capital used, worth Bt40 million out of the original Bt135 million, was to purchase land and buildings for the company's seven branches which include Branches at Pakthongchai, Lungsawn, Aubol Store, Narathiwas 2, Lampang 2, Amnajareon, Hauwyod. The remaining proceeds of Bt95 million are used to repay short-term loans at financial institutions. The company has therefore used all of the proceeds. SINGER previously offered 13,500,000 capital increase shares as a rights issue to existing shareholders at a price same as the par value of Bt10 apiece from Febuary 22 to March 1, 1996. The increase has been registered with the Commerce Ministry. The company also previously reported the objectives of the use of proceeds gained from this capital increase which were: 1. To purchase land and buildings for its branch locations business expansion plan within the year 1996. 2. To reduce the burden of loan interest expenses paid to financial institutions